Loews Corporation $L Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors reduced its Loews stake by 33.1% in the first quarter, selling 8,906 shares and retaining 18,030 shares valued at approximately $1.93 million. Institutional investors collectively own 58.33% of the company.
• Loews received a ratings upgrade from Weiss Ratings to “buy (a-)”; MarketBeat data shows the stock carries an average “Strong Buy” rating. Director Dino Robusto also purchased 5,000 shares worth about $524,000, nearly doubling his holdings.
• Loews reported quarterly earnings of $2.16 per share on $4.73 billion in revenue. Shares opened at $115.48, near their 52-week high, while the company announced a quarterly dividend of $0.0625 per share, equivalent to a 0.2% yield.

Pacer Advisors Inc. lessened its stake in Loews Corporation (NYSE:L - Free Report) by 33.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,030 shares of the insurance provider's stock after selling 8,906 shares during the period. Pacer Advisors Inc.'s holdings in Loews were worth $1,925,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in L. DV Equities LLC acquired a new stake in shares of Loews in the 4th quarter valued at about $25,000. Private Trust Co. NA lifted its position in shares of Loews by 896.7% during the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider's stock worth $31,000 after purchasing an additional 269 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in Loews in the third quarter worth about $30,000. SHP Wealth Management bought a new stake in Loews in the fourth quarter valued at about $35,000. Finally, Westfuller Advisors LLC bought a new stake in Loews in the fourth quarter valued at about $36,000. 58.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Loews from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Strong Buy".

Insiders Place Their Bets

In related news, Director Dino Robusto bought 5,000 shares of the business's stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the purchase, the director owned 10,235 shares of the company's stock, valued at $1,072,013.90. This represents a 95.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.00% of the stock is owned by corporate insiders.

Loews Stock Performance

Shares of NYSE L opened at $115.48 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44. The firm's 50-day moving average price is $112.54 and its two-hundred day moving average price is $109.53. Loews Corporation has a 52-week low of $93.25 and a 52-week high of $121.01. The stock has a market capitalization of $23.61 billion, a P/E ratio of 14.15 and a beta of 0.52.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share for the quarter. The business had revenue of $4.73 billion for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews's dividend payout ratio (DPR) is currently 3.06%.

Loews Profile

Loews Corporation NYSE: L is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews' principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.

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